Stocks
Baird Cuts IBM Stake as Institutional Investors Weigh In
Baird Financial Group Inc., a prominent financial institution, has reduced its stake in International Business Machines Corporation (IBM) by 3.8% in the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission.
The fund owned 354,617 shares of IBM's stock after selling 14,000 shares during the period. The value of Baird Financial Group Inc.'s holdings in International Business Machines was $99,722,000 at the end of the most recent quarter.
This reduction is part of a broader trend of institutional investors adjusting their positions in the technology sector. BlackRock Inc., for example, purchased a new position in IBM worth $21,586,659,000 during the same period.